$ETH Next week's major event is about to land, with President Pu Da set to visit China, which could become a key turning point in the US-Iran situation and negotiations.

Before positive news related to US-Iran negotiations materializes, if Bitcoin can hold steady above the 75,300-75,800 support range, the overall trend has not fully weakened, and there is still room for a rebound and upward movement.
If this support level is effectively broken, even if positive developments in US-Iran negotiations follow, the market will find it difficult to recover again.
This geopolitical positive news can only temporarily boost the market rebound, playing a short-term role in continuing the bullish momentum, but cannot completely reverse the overall trend or initiate a new strong upward rally, and can only slow down the deep correction at the daily chart level.
From a macro perspective, June will see a concentrated issuance of IPOs combined with the start of the World Cup, which will continue to drain existing market funds, leading to a tightening of overall liquidity and putting noticeable pressure on the cryptocurrency market.